Genuine Parts Company $GPC Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. trimmed its position in Genuine Parts Company (NYSE:GPC) by 17.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,296 shares of the specialty retailer’s stock after selling 5,539 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Genuine Parts were worth $3,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in GPC. Kestra Advisory Services LLC increased its position in shares of Genuine Parts by 7.0% in the third quarter. Kestra Advisory Services LLC now owns 38,996 shares of the specialty retailer’s stock valued at $4,903,000 after acquiring an additional 2,541 shares during the period. Quest 10 Wealth Builders Inc. raised its stake in shares of Genuine Parts by 74.0% during the third quarter. Quest 10 Wealth Builders Inc. now owns 489 shares of the specialty retailer’s stock valued at $61,000 after acquiring an additional 208 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Genuine Parts by 7.3% during the third quarter. Commonwealth Equity Services LLC now owns 109,188 shares of the specialty retailer’s stock valued at $13,729,000 after acquiring an additional 7,465 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Genuine Parts by 32.4% during the third quarter. Chicago Partners Investment Group LLC now owns 9,007 shares of the specialty retailer’s stock worth $1,108,000 after purchasing an additional 2,205 shares during the period. Finally, Sound Financial Strategies Group LLC boosted its holdings in shares of Genuine Parts by 6.8% during the third quarter. Sound Financial Strategies Group LLC now owns 2,850 shares of the specialty retailer’s stock worth $358,000 after purchasing an additional 181 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Evercore reissued an “outperform” rating on shares of Genuine Parts in a research note on Wednesday, July 22nd. Truist Financial upped their price target on Genuine Parts from $126.00 to $131.00 and gave the company a “hold” rating in a research report on Tuesday, October 20th. DA Davidson increased their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on Genuine Parts from $125.00 to $137.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Finally, The Goldman Sachs Group set a $122.00 price objective on Genuine Parts in a research report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts has an average rating of “Moderate Buy” and an average price target of $145.00.

Genuine Parts Stock Performance

Shares of GPC opened at $124.65 on Friday. The company has a 50-day simple moving average of $129.16 and a two-hundred day simple moving average of $120.06. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.22 and a quick ratio of 0.54. The firm has a market capitalization of $17.19 billion, a PE ratio of 498.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.65. Genuine Parts Company has a one year low of $90.78 and a one year high of $151.57.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.03. Genuine Parts had a return on equity of 23.00% and a net margin of 0.12%. The firm had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.49 billion. During the same quarter in the prior year, the business earned $1.98 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts anticipate that Genuine Parts Company will post 7.62 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 4th were issued a $1.0625 dividend. The ex-dividend date was Friday, September 4th. This represents a $4.25 dividend on an annualized basis and a yield of 3.4%. Genuine Parts’s dividend payout ratio is 1,700.00%.

About Genuine Parts

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.